Harbor Capital Advisors Inc. Acquires New Shares in The Descartes Systems Group Inc. $DSGX

Key Points

• Harbor Capital Advisors Inc. purchased 12,099 shares of The Descartes Systems Group, valued at approximately $1.23 million, marking a new investment in the company.
• Several institutional investors increased their stakes in The Descartes Systems Group, with hedge funds and institutional investors owning 77.73% of the stock.
• Analysts have mixed ratings on the stock, with an average rating of "Moderate Buy" and a consensus price target of $123.60, despite Zacks Research upgrading its rating from "strong sell" to "hold."

Harbor Capital Advisors Inc. acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,099 shares of the technology company's stock, valued at approximately $1,230,000.

Several other large investors have also recently modified their holdings of the stock. American Century Companies Inc. boosted its holdings in The Descartes Systems Group by 5.9% during the 1st quarter. American Century Companies Inc. now owns 223,925 shares of the technology company's stock valued at $22,543,000 after acquiring an additional 12,571 shares during the period. GAMMA Investing LLC lifted its position in The Descartes Systems Group by 9,983.0% in the first quarter. GAMMA Investing LLC now owns 50,919 shares of the technology company's stock valued at $5,134,000 after purchasing an additional 50,414 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of The Descartes Systems Group by 130.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after purchasing an additional 2,800,492 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of The Descartes Systems Group by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 128,335 shares of the technology company's stock worth $12,940,000 after purchasing an additional 3,316 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in shares of The Descartes Systems Group in the first quarter worth $319,000. Hedge funds and other institutional investors own 77.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DSGX shares. Royal Bank Of Canada dropped their price target on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research report on Thursday, June 5th. Zacks Research raised shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 2nd. Barclays cut their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 5th. Morgan Stanley assumed coverage on The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price target on the stock. Finally, Wall Street Zen upgraded The Descartes Systems Group from a "sell" rating to a "hold" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $123.60.

The Descartes Systems Group Trading Up 1.5%

The Descartes Systems Group stock traded up $1.50 during mid-day trading on Monday, hitting $103.35. The company had a trading volume of 360,588 shares, compared to its average volume of 508,011. The stock's 50 day moving average price is $102.78 and its two-hundred day moving average price is $103.65. The Descartes Systems Group Inc. has a 12 month low of $92.00 and a 12 month high of $124.31. The company has a market capitalization of $8.88 billion, a PE ratio of 61.15 and a beta of 0.80.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The company had revenue of $178.98 million for the quarter, compared to the consensus estimate of $176.51 million. The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The Descartes Systems Group's revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 earnings per share. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

The Descartes Systems Group Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.